Registered number
SC664892
Andzman Limited
203 Cumberland Street
Glasgow
Filleted Accounts
for the year ended 30 June 2023
Prepared by :
Yousaf & Co Ltd
Chartered Certified Accountants
298-300 Maxwell Road
Glasgow
G41 1PJ
IA/348 -23
Andzman Limited
Registered number : SC664892
Balance Sheet
as at 30 June 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 3,333 713
Current assets
Stocks 25,261 15,158
Cash at bank and in hand 31,653 1,812
56,914 16,970
Creditors: amounts falling due within one year 4 (17,058) (9,169)
Net current assets 39,856 7,801
Total assets less current liabilities 43,189 8,514
Creditors: amounts falling due after more than one year 5 (46,795) (12,906)
Net assets / (liabilities) (3,606) (4,392)
Capital and reserves
Called up share capital 100 100
Profit and loss account (3,706) (4,492)
Shareholder's funds (3,606) (4,392)
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mrs Ramsha Farooq
Director
Approved by the board on 5 February 2024
Andzman Limited
Notes to the Accounts
for the year ended 30 June 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Fixtures, fittings, tools and equipment 10% reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 3 2
3 Tangible fixed assets
Fixtures & fittings
£
Cost
At 1 July 2022 827
Additions 2,990
At 30 June 2023 3,817
Depreciation
At 1 July 2022 114
Charge for the year 370
At 30 June 2023 484
Net book value
At 30 June 2023 3,333
At 30 June 2022 713
4 Creditors: amounts falling due within one year 2023 2022
£ £
Visa card 8,292 -
Corporation tax 3,430 1,431
Other creditors 5,336 7,738
17,058 9,169
5 Creditors: amounts falling due after one year 2023 2022
£ £
Director' Loan Account 46,795 12,906
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